Poodlana presale surges to $3.5M, prices set to rise further; Bitcoin hits $69K boosted by President Trump's pro-cryptocurrency remarks; BOOK OF MEME rises 20% on strong technical patterns and market interest.
As August approaches, the cryptocurrency market continues to evolve with exciting developments and noteworthy trends. Three cryptocurrencies stand out as garnering significant attention and the potential to drive market momentum: Poodlana (POODL), Bitcoin (BTC), and BOOK OF MEME (BOME).
Each of these assets is making waves in its own way, whether it be through innovative pre-sales, significant price increases, or emerging market trends.
As we move into August, we explain why Poodlana, Bitcoin, and BOOK OF MEME (BOME) are the coins to watch.
1. Poodlana: The new Solana meme coin that's creating buzz in its presale
Poodlana (POODL) is quickly becoming a hot topic in the cryptocurrency space, especially in the meme coin sector. Poodlana's presale, which launched on July 17, 2024, has already reached a staggering $3.5 million in less than two weeks.
This increased interest highlights the growing expectations for this new entrant in the market.
The inspiration behind Poodlana is equally fascinating: the cryptocurrency is inspired by the appeal of poodles, one of Asia's most popular dog breeds, and blends hipster appeal with the meme coin trend.
This combination has resonated with investors and enthusiasts alike and contributed to its rapid growth.
With just 17 days left in the presale, the token is expected to be listed on the first decentralized exchange (DEX) on August 16.
The presale price is designed to increase every 72 hours. At the time of writing, the price is $0.0335 and is expected to rise to $0.0375 in the next presale phase.
It is expected to list on cryptocurrency exchanges at $0.06, offering early buyers the chance to capitalize on a potentially lucrative opportunity.
Poodlana's token economics are also noteworthy: the total supply of tokens is 1 billion, with 50% available in the presale and 100% unlocked after the ICO sale.
The immediate DEX listing of tokens after the presale is intended to remove uncertainty, which can cause significant price fluctuations as projects move from presale to public trading.
2. Bitcoin: Activity Increases After Bitcoin 2024 Conference
Bitcoin (BTC) remains the linchpin of the cryptocurrency market, and its recent performance underscores its continued importance and influence.
In the past 24 hours, the price of Bitcoin has surged by more than 3%, breaching the $69,000 level. This price rise reflects a bullish trend across the market, further fuelled by recent events.
Former President Donald Trump's speech in support of the cryptocurrency at the Bitcoin Conference has been a major driver of Bitcoin's recent rally.
President Trump has pledged to block federal bitcoin sales and make the U.S. the global leader in cryptocurrency if re-elected. His comments resonated with the crypto community and helped Bitcoin recover, pushing it closer to $70,000 from a low of $63,000 over the past week.
The rally has also had a positive impact on other Bitcoin-related tokens, with Bitcoin Cash (BCH) and Bitcoin SV (BSV) both recording significant gains of over 14% on Monday, with BSV in particular recording a dramatic 16% gain in the past day, demonstrating a strong recovery despite being down roughly 45% year-to-date.
Bitcoin remains a key asset to watch in August as its influence permeates the market and the price approaches $70,000.
3. BOOK OF MEME (BOME): A Solana-based meme coin on the rise
BOOK OF MEME (BOME) has quickly emerged as a prominent player within the Solana ecosystem, with recent movements highlighting a significant bullish trend for the meme coin, as BOME rose 20% to $0.0105 on a combination of technical patterns and broader market movements.
The token's impressive rally is bolstered by a golden cross pattern, with the 50-day exponential moving average (EMA) crossing above the 200-day EMA, indicating strong bullish momentum.
Moreover, BOME has shown resilience as it bounced back from the early July drop. After retesting the support level at $0.0065, the coin broke through the key resistance at $0.0095 and rose to a high of $0.01065.
The Relative Strength Index (RSI) also broke out of a bearish divergence, further supporting the positive outlook.
Nevertheless, traders should remain cautious as the RSI has entered the overbought territory and potential volatility due to the upcoming Federal Open Market Committee (FOMC) meeting could influence price movements.
The growing interest in BOME is also evident from a 74% increase in futures open interest, which indicates increased market interest but also suggests the possibility of increased volatility and a subsequent correction.
An inverse head and shoulders pattern emerging on the daily chart suggests a 41% surge to $0.013 is possible, making BOME a key cryptocurrency to watch closely in August.
Conclusion
Poodlana (POODL), BOOK OF MEME (BOME), and Bitcoin have each shown strong bullish indicators in August, with Poodlana standing out as the most promising pick.
With presales currently underway, Poodlana shows a clear path for price appreciation leading up to its DEX listing on August 16th, providing a more predictable investment opportunity.
In contrast, Bitcoin and BOOK OF MEME face market volatility that can lead to significant price fluctuations. For those looking for a more structured, potentially profitable investment, Poodlana's presale phase offers a unique and advantageous position.
However, due to the volatile nature of the cryptocurrency market, it is important to always do your due diligence before making any cryptocurrency investments.
